I’m from New Zealand and looking to buy a property in Melbourne. I’m looking in the range of $600,000 and have around $100,000. I have a cousin in Melbourne, so it’ll be easier for me to buy a home near him. I’m planning to move there after a year in Australia, so am looking to buy an owner-occupied property, if possible.

In your case, since you’ll be moving to Australia only after a year, you can’t buy an owner-occupied property, for now, you have to buy an investment property. However, once you move here, we can ask your bank and get you owner-occupier interest rates.

Moreover, the banks want to ensure whether you have a lot of cash for a financial buffer or whether you have a job lined up once you move to Australia.

So, it’s advisable not to use all of your deposit - you can put the remainder into an offset account and use it later. It helps to reduce your interest bill, as you have to pay the interest on the balance of your home loan less the balance of your offset account.

Please enquire online or call us on +61 2 9194 1700 and we can help you get approved for a home loan for an NZ citizen.